Nifty Bank IndexLong
BANKNIFTY tomorrow [8th September 2020]
The index could not follow on with the sell-off in the second half of the day, although the Rupee depreciated comparatively significantly, and managed to close above 23000. Stochastics signals a slight pullback, up until it's 1-week avg. @ 23300.
A gap-up opening above 23050 will lead the index to test 23150. A successful breach of the same will lead it to 23300 - 23500 - 23600 (a critical resistance level), with Pivot @ 23100.
A gap-down opening may lead to a test of today's low @ 22700. A breach of the same will take the index down to 22600 - 22400 (a critical support level), with Pivot @ 22800.
Note:- The index remains bearish below 23600.
A gap-up opening above 23050 will lead the index to test 23150. A successful breach of the same will lead it to 23300 - 23500 - 23600 (a critical resistance level), with Pivot @ 23100.
A gap-down opening may lead to a test of today's low @ 22700. A breach of the same will take the index down to 22600 - 22400 (a critical support level), with Pivot @ 22800.
Note:- The index remains bearish below 23600.
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